Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Tomorrow, Friday, January 30, 2015, 16 U.S. common stocks are scheduled to go ex-dividend. The dividend yields on these stocks range from 0.9% to 11.1%. All of these stocks can be found on our

stocks going ex-dividend

section of our

dividend calendar

.

Highlighted Stocks Going Ex-Dividend Tomorrow:

KNOT Offshore Partners

Owners of

KNOT Offshore Partners

(NYSE:

KNOP

) shares, as of market close today, will be eligible for a dividend of 49 cents per share. At a price of $21.10 as of 9:30 a.m. ET, the dividend yield is 8.8%.

The average volume for KNOT Offshore Partners has been 63,300 shares per day over the past 30 days. KNOT Offshore Partners has a market cap of $292.5 million and is part of the transportation industry. Shares are down 5% year-to-date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

KNOT Offshore Partners LP owns and operates shuttle tankers under long-term charters. The company provides crude oil loading, transportation, and storage services under time charters and bareboat charters. As of April 14, 2014, it had a fleet of five shuttle tankers. The company has a P/E ratio of 20.95.

TheStreet Ratings rates

KNOT Offshore Partners

as a

sell

. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full

KNOT Offshore Partners Ratings Report

now.

QEP Midstream Partners

Owners of

QEP Midstream Partners

(NYSE:

QEPM

) shares, as of market close today, will be eligible for a dividend of 31 cents per share. At a price of $15.79 as of 9:36 a.m. ET, the dividend yield is 7.7%.

The average volume for QEP Midstream Partners has been 211,600 shares per day over the past 30 days. QEP Midstream Partners has a market cap of $430.6 million and is part of the energy industry. Shares are down 7.2% year-to-date as of the close of trading on Wednesday.

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STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

QEP Midstream Partners, LP is engaged in the ownership, operation, acquisition, and development of midstream energy assets in the United States.

TheStreet Ratings rates

QEP Midstream Partners

as a

sell

. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself. You can view the full

QEP Midstream Partners Ratings Report

now.

Hexcel

Owners of

Hexcel

(NYSE:

HXL

) shares, as of market close today, will be eligible for a dividend of 10 cents per share. At a price of $43.69 as of 9:34 a.m. ET, the dividend yield is 0.9%.

The average volume for Hexcel has been 578,700 shares per day over the past 30 days. Hexcel has a market cap of $4.2 billion and is part of the aerospace/defense industry. Shares are up 5.5% year-to-date as of the close of trading on Wednesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Hexcel Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of lightweight and high-performance structural materials for use in commercial aerospace, space and defense, and industrial applications. The company has a P/E ratio of 20.74.

TheStreet Ratings rates

Hexcel

as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, good cash flow from operations, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full

Hexcel Ratings Report

now.

More About Dividends:

One benefit of owning a stock is the potential that you will be paid a dividend. The distribution of dividend payments is another way for a company to share its profit with you. A dividend means that the company pays you a certain amount of money, either as a one-time payment or more commonly on a quarterly basis, for each share of stock you own.

Many times, dividends come at the expense of greater price appreciation, because the company is distributing its profits to shareholders rather than reinvesting the profits back into the growth of the company. However, companies that pay dividends can be very attractive to investors when they offer a steady stream of income. There are some important terms and dates an investor should be familiar with before purchasing any dividend-paying companies. Let's work through an example to help better explain some of these terms:

On March 1, ABC Widget Company has decided that because it holds excess cash and lacks investment opportunities, it would like to reward shareholders with a regular quarterly dividend payment. The date for this particular announcement is known as the declaration date. It is on this date that the company announces the specific dividend payment along with the holder-of-record date (aka record date) and the payment date. The company announces that a dividend payment of 25 cents per share will be payable March 31, 2012 (the payment date) to all shareholders of record at the close of business on March 16, 2012 (holder-of-record date). What does this all mean? Well the short story is that the company looks at its records on March 16 and anyone listed on the books as an owner of ABC Widget company will be eligible for the dividend payment (on March 31).

The one other important term to remember is the ex-dividend date. The ex-dividend date (typically two trading days before the holder-of-record date for U.S. securities) is the day in which a company begins trading without the dividend. In order to have a claim on a dividend, shares must be purchased no later than the last business day before the ex-dividend date. A company trading ex-dividend will have the upcoming dividend subtracted from the share price at the start of the trading day. Many times, the price of a stock will increase in anticipation of the upcoming dividend as the ex-dividend date approaches, yet will fall back by the amount of the dividend on the ex-dividend date.

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